Berry Group (US) and Amcor (Australia) are Leading Players in Plastic Caps and Closures Market

The global plastic caps and closures market size is projected to grow from USD 44.3 billion in 2020 to USD 57.0 billion by 2025, at a CAGR of 5.2% between 2020 and 2025. The major driving factors of the market include an increase in demand for bottled water, need for convenience, concerns about product safety & security, product differentiation & branding, and decreasing package sizes.

The key players in the plastic caps and closures market are Berry Group (US), Crown Holding (US), AptarGroup (US), Amcor (Australia), Coral Products (UK), BERICAP (Germany), Silgan Holdings (US), O.Berk Company, LLC (US), Guala Closures (Italy), United Caps (Luxembourg), Caps & Closures Pty Ltd. (Australia), Caprite Australia Pty Ltd. (Australia), Pano Cap (Canada) Limited (Canada), Plastic Closures Ltd. (UK), Cap & Seal Pvt. Ltd. (India), Phoenix Closures (US), Alupac India (India), Hicap Closures (China), MJS Packaging (US), J.L. Clark (US), TriMas (US), and Comar, LLC (US). These players have adopted various strategies, such as merger & acquisition, investment & expansion, new product launch/development, and partnership, contracts & agreements, a joint venture between 2015 and 2020, to enhance their market shares and expand their global presence.

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Berry Global held the leading position in the global plastic caps & closures market. The company has maintained its leadership position through its strong distribution network across Europe, North America, South America, Asia, and other developing countries. It continues to expand its capacity by adopting inorganic strategies, such as acquisitions across the world. Berry Global is focusing on expanding manufacturing facilities in developing markets to increase production capacities to meet the demand for caps & closures.

• In July 2019, Berry Global Group acquired RPC Group for approximately USD 6.5 billion. This acquisition helped create a leading global supplier of value-added protective solutions and one of the world’s largest plastic packaging companies. In addition, the company has broadened its global footprint consisting of over 290 locations worldwide, including in North and South America, Europe, Asia, Africa, and Australia.

Amcor is the second-largest player in the plastic caps & closures market. The company has its presence in North America, Europe, Asia Pacific, and in emerging markets. It is one of the leading companies engaged in the manufacturing and distribution of both plastic and aluminum caps & closures. The company focuses on increasing its profitability by strengthening customer relations and expanding its presence by adopting both inorganic and organic strategies, such as agreements and contracts in emerging markets while optimizing operational performance.

• In June 2019, Amcor acquired Bemis Company Inc. The combined company will now operate as Amcor Plc (Amcor). The acquisition of Bemis has brought additional scale, capabilities, and footprint that has strengthened Amcor’s industry-leading value proposition and generate significant value for shareholders.

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The beverages sector is projected to play a key role in the growth of the plastic caps and closures market

The plastic caps and closures market is witnessing considerable growth owing to the rise in demand from the beverage and pharmaceutical industries. Beverage packaging is used to enhance the shelf life while retaining the taste and texture of the beverage. Demand from beverage companies for novel differentiating closures drive the market for premium caps in the beverages industry. This growth can also be attributed to the rising demand for product diffraction and branding. Growing demand from the pharmaceutical industry for tamper-evident closures is another factor driving the growth of the plastic caps and closures market. MarketsandMarkets projects that the plastic caps and closures market will grow from USD 40.52 billion in 2018 to USD 51.67 billion by 2023, at a CAGR of 4.99%.

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On the basis of product type, the plastic caps and closures market is segmented into screw-on caps, dispensing caps, and others, which include double-wall closures, twist-on closures, and child-resistant closures. In terms of both, value and volume, the screw-on caps segment accounted for the largest share and is projected to grow at the highest CAGR during the forecast period. This is attributed to its wide application in various end-use industries such as beverages, pharmaceuticals, and personal care. They are also cost-effective and lightweight. The growing beverage, pharmaceutical, and personal care industries drive the demand for screw-on plastic caps & closures.

The plastic caps and closures market, by technology, is segmented into injection molding, compression molding, and post-mold TE band. The post-mold TE band is projected to grow at the highest CAGR during the forecast period. Post-mold technology is comparatively economical and time-effective. Additionally, mold and maintenance costs are drastically reduced when slitting is carried out as a secondary operation. There is also a risk of the weakened cap being damaged upon ejection from the mold.

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The Asia Pacific plastic caps and closures market is projected to grow at the highest CAGR from 2017 to 2022. This region is the hub of foreign investments and the booming food & beverage and pharmaceutical sectors provide opportunities for the growth of plastic caps & closures. The increase in demand for plastic caps and closures can be attributed to the rising population of the region with high disposable incomes. With the increasing income of the people in this region, the demand for high-end products has been growing fast. Owing to the continuous growth and innovation in the packaging industry, the plastic caps and closures market is expected to grow over the next five years in the region.

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Crown Holding (US) and Amcor (Australia) are the Key Players in the Plastic Caps and Closures Market

MarketsandMarkets projects that the plastic caps and closures market size will grow from USD 40.52 Billion in 2018 to USD 51.67 Billion by 2023, at a CAGR of 4.99%. The plastic caps and closures market is witnessing considerable growth due to increasing demand for convenience packaging and growing concerns about product safety and security in the beverage, food, and pharmaceutical industries. Moreover growing bottled water market where plastic closures are used on a large scale is one of the major factor driving the growth of plastic caps and closures market.

The key players in the plastic caps and closures market include Berry Group (US) Crown Holding (US), AptarGroup (US), Amcor (Australia), Coral Products (UK), Closure Systems International (US), Bericap (Germany), Silgan Holdings (US), RPC Group (UK), and O.Berk Company, LLC (US). Other players include United Caps (Luxembourg), Caps & Closures Pty Ltd (Australia), Caprite Australia Pty. Ltd (Australia), Pano Caps (Canada), Plastic Closures Limited (UK), Cap & Seal Pvt. Ltd (India), Phoenix Closures (US), ALUPAC-INDIA (India), Helicap Closures (China), and MJS Packaging (US). These players adopted strategies such as expansions & investments, agreements & contracts, and strategic alliance, mergers & acquisitions, and new product & technology launches to strengthen their position, expand their global presence, and increase their share in the market.

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Crown Holding is one of the largest packaging companies in the world. The company offers a large number of packaging solutions catering to various end-use industries such as food & beverages, pharmaceuticals, powered drinks, and confectionery packaging. It operates in segments such as beverage cans, food cans & closures, and others and offers plastic closures under the food caps & closures segment. The company has adopted organic and inorganic strategies such as expansions & investments, and mergers & acquisitions to expand its global presence. For instance, in February 2018, Crown Food Europe, a subsidiary of Crown Holdings, introduced a new capping solutions package which will help food manufacturers to lower the total cost of ownership. The package includes the sale of its capping technology, ancillary components, and expert technical support for the machine’s service life. Three of Crown’s capping solutions—Smart Capper, Euro Capper, and Global Capper-are available for sale as part of this package.

Amcor is one of the leading companies in the plastic caps and closures market. It is a global packaging manufacturer that offers innovative packaging solutions. The company operates through two business groups, namely, flexibles and rigid plastics. The company caters to the food, healthcare, beverage, home, tobacco, and personal care industries through its broad range of flexible and rigid packaging products. It has maintained its leadership position through its strong distribution network across North America, Western Europe, Australia, and New Zealand. The company continues to expand its capacity by adopting organic strategies such as expansions and inorganic strategies such as acquisitions, joint ventures, and agreements across the world.

In November 2016, Amcor acquired Plastic Moulders Limited (Canada), a rigid plastics business engaged in the manufacturing of containers and closures for the food and home/personal care markets in North America at an estimated cost of USD 30 million. The acquisition contributed toward the expansion of Amcor’s closures business in North America.

In October 2015, Amcor introduced new child-resistant (CR) closures for ophthalmic packaging, a 15-mm-diameter polypropylene (PP) closure developed in line with the regulations of the federal government that require child-resistant closures for certain drug packaging.

Related Reports:

Plastic Caps and Closures Market by Product Type (Screw-on Caps, Dispensing Caps), Technology (Injection Molding, Compression Molding, Post-mold TE Band), Raw Material (PP, HDPE, LDPE), End-use Sector (Beverages, Food), Region – Global Forecast to 2023